Andre Yoskowitz
27 Jan 2014 20:23
After announcing a cross-licensing deal with Google over the weekend, Samsung has also settled with Ericsson over their long-standing patent dispute.
Although the full details were not disclosed, Ericsson did say the settlement would boost their quarterly net income by $512.5 million. Besides the upfront payment, Samsung will also pay ongoing royalties to Ericsson.
The agreement will end all current global patent disputes between the tech giants, including complaints that are already being investigated by the U.S. International Trade Commission.
"We are pleased that we could reach a mutually fair and reasonable agreement with Samsung. We always viewed litigation as a last resort," Ericsson Chief Intellectual Property Officer Kasim Alfalahi said in a statement. "This agreement allows us to continue to focus on bringing new technology to the global market and provides an incentive to other innovators to share their own ideas."